LM Asset IM Inc's Q1 2025 13F: 2 new positions, 2 exits
Form 13F-HR for the quarter ended Mar 31, 2025 · filed May 15, 2025 · 9 reported positions · accession 0000935836-25-000337
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | TELESAT CORP (TSAT) | 12.5% | 10.2% | −2.4 pts | −278K sh | −34% |
| New | ALGOMA STL GROUP INC (ASTL) | — | 5.1% | +5.1 pts | +910K sh | new |
| Reduced | SPROTT PHYSICAL SILVER TR (PSLV) | 6.6% | 3.6% | −3.0 pts | −420K sh | −58% |
| Increased | LUMEN TECHNOLOGIES INC (LUMN) | 44.1% | 39.5% | −4.7 pts | +997K sh | +11% |
| Increased | VERMILION ENERGY INC (VET) | 17.7% | 20.3% | +2.5 pts | +440K sh | +22% |
| Increased | GRAN TIERRA ENERGY INC (GTE) | 7.5% | 8.7% | +1.2 pts | +620K sh | +57% |
| Reduced | ALGONQUIN PWR UTILS CORP (AQN) | 8.0% | 7.2% | −0.8 pts | −540K sh | −28% |
| New | ARIS MNG CORP (ARMN) | — | 2.5% | +2.5 pts | +520K sh | new |
| Increased | SCORPIO TANKERS INC (STNG) | 1.9% | 3.1% | +1.2 pts | +40,000 sh | +100% |
| Exited | CLEARWATER PAPER CORP (CLW) | 1.2% | — | −1.2 pts | −42,300 sh | −100% |
| Exited | SOLARIS RES INC (SLSR) | 0.5% | — | −0.5 pts | −172K sh | −100% |
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 100.0% of the equity book
Changes in the top 10 this quarter: ASTL entered · ARMN entered · CLW left · SLSR left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | LUMEN TECHNOLOGIES INC (LUMN) | 44.1% | 39.5% | |
| 2 | VERMILION ENERGY INC (VET) | 17.7% | 20.3% | |
| 3 | TELESAT CORP (TSAT) | 12.5% | 10.2% | |
| 4 | GRAN TIERRA ENERGY INC (GTE) | 7.5% | 8.7% | |
| 5 | ALGONQUIN PWR UTILS CORP (AQN) | 8.0% | 7.2% | |
| 6 | ALGOMA STL GROUP INC (ASTL) | 0.0% | 5.1% | Entered the top 10 |
| 7 | SPROTT PHYSICAL SILVER TR (PSLV) | 6.6% | 3.6% | |
| 8 | SCORPIO TANKERS INC (STNG) | 1.9% | 3.1% | |
| 9 | ARIS MNG CORP (ARMN) | 0.0% | 2.5% | Entered the top 10 |
| — | CLEARWATER PAPER CORP (CLW) | 1.2% | 0.0% | Left the top 10 |
| — | SOLARIS RES INC (SLSR) | 0.5% | 0.0% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).
Option positions (puts and calls)
Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.
| Activity | Security | Type | Shares before | Shares now | Reported value |
|---|---|---|---|---|---|
| Reduced | LUMEN TECHNOLOGIES INC (LUMN) | Call | 10,300 | 10,000 | $115K |